Why Oatly Stock Was a Tasty Treat Again for Investors Today
Oatly Group (NASDAQ: OTLY) was shaping up to be a stock market rocket this week. On Tuesday, for the second day in a row, shares of the alt-milk products purveyor blasted past the S&P 500 index, rising nearly 9% against the index's 1.3% gain. The market continued to be impressed by Oatly's new tie-up with a top name in fast food restaurants.
On Monday, Oatly revealed that it struck a partnership deal with no less a company than McDonald's (NYSE: MCD). The arrangement will see McDonald's use Oatly's plant-based milk alternative as a selection for its McCafe beverages in Austria.
Oatly and McDonald's have been partners for some time, meanwhile Austria -- a small Central European nation home to fewer than 9 million people -- is a relatively limited market. So investors are taking this new deal as an indication of the restaurant giant's increasing trust (and perhaps reliance) on Oatly.
Source Fool.com
